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Opinions Greg Dean
Kinder Morgan Inc.KMICOMMENTAug 02, 2016
Greg DeanStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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Jamie Murray 
He sold all of his direct energy exposure Jan 31. He thinks there is a $55 to $60 for WTI going forward. He has a negative view of this sector going forward. Pipelines and mid-streamers is the place to be and there is a good story behind the return of capital, but it is simply a tough story. He would stay away from it.
Pipelines. If he didn't know the name of the stock, he would say it has built quite a nice base without any real euphoric volume. Doesn't know what will move this if it hasn't moved yet, but it looks like the risk would be to the upside, not the downside. If he owned it, he would continue holding, but if not, he would be a buyer. Dividend yield of 2.8%.
A pipeline giant. Got highly depressed and there were concerns around the balance sheet, and he thought management had really changed their tune as to where they were going to allocate capital. Instead of getting bigger at all costs, they started getting better. It resulted in a much better free cash flow yield, so he got into this one. Dividend yield of 2.6%.
Stephen Groff
The company is really at an interesting time. They had a lot of spinoffs to finance their pipelines. It was really just a cost of capital arbitrage. They brought all those in, slashed the distribution to what they believe is a sustainable level, cut their backlog and stated that they were not going to borrow to fund projects. That worked when we could get money really cheap, but can’t seem to get as much money now or as cheap. They are actually migrating back to a growth stock.